Topic: Bitminter bitcoin mining pool - shutdown mining 2020-07-01 website 2021-06-01 - page 31. (Read 325003 times)

You don't have to worry about big miners abusing the pool when good luck returns. The reward system is completely safe from pool hoppers, because you never know in advance how much you will get for your work. Your payouts depend on future luck. You can't come and go based on what the future luck will be, because you cannot know what it will be. The luck yesterday does not in any way influence luck tomorrow.

More about pool hopping: http://bitcoin.stackexchange.com/questions/5072/what-is-pool-hopping

If you mine in the pool 24/7 then the size of the shifts don't really affect your payouts. With 1% of the hashrate you get 1% of the coins that are paid out.

For those who mine here part time longer shifts would even out the variance in their payouts. But on the other hand it could take a month from you do some work until it is fully paid. That's not good. But yes, if we had more hashpower so the shifts wouldn't take so long then I would increase the shift size to even out payouts for part-time miners.

You get bad luck and you get good luck?

At present we are in a very bad luck run, from the halving I worked
out that we were getting a little over 70% of the earnings that we should
have got, and that was before this block, which will probably take us under
60%...so be it..unfortunately.

I have also solo mined small alt coins and know that lady luck works in mysterious
ways in mining and that over time things tend to even out, but in small pools
(like this pool now in the whole scheme of things), where bad luck can and does
often run for many, many months, and more people jump off, making it worse
and take longer for those left mining, but as night follows day, good luck will
return.

My issue and concern is, because of the small size of the pool now, when the luck does turn
we will see hired hash or megahash jump onboard, and our work during the bad luck
just be taken advantage of, in a big pool this doesnt happen, but in a small pool
you have the luxury of time to see what is going on and switch pools, the current
shift system IMO just doesnt act as a disincentive to stop or slow this from happening.

The present shift system worked when we were a much greater % of the total pool,
is there any merit in looking at lengthening the shifts or having more of them, maybe
increasing them five or tenfold even, someone could hire 10pet pretty easily and the
whole 10 shifts could be worked through in under a day under the present system.

I am a fan of this pool, but want the pain that we are all feeling now, to be followed
by the euthoria of some really good luck, but I want the same percentage of the
good luck as I am having of the bad luck....that is all

cheers grant
   

I will say that I have always loved BitMinter. It was my first bitcoin pool. However, the pool luck has been really bad these last 6 months. It is my opinion that this bad luck has had a significant impact on the hashrate overall. I really want to see the pool succeed and grow, but as of a few weeks ago, I am only using BitMinter as my backup.

I don't think the issue is with getting to 99% CDF, since it's bound to happen. It's that the pool has become so small compared to the overall network hash rate that it takes 3 weeks to get to 99% CDF. In the long run, it averages out to the same payout. Some miners may prefer more frequent payouts as opposed to waiting a potential 3 weeks or more between payouts even though they would be much bigger here.

You can see just how much the pool has been affected by this lack of block solving by the 20% drop in hash rate. At the start of the month, the hash rate was around 3,000Thps and now it's only around 2,300Thps. If the pool isn't growing, it's dying.

Am I correct in assuming that *on average* there will be one 99% CDF block every 100 blocks we mine and that the universe will collapse before we reach a CDF of 100%? If so there still seems little reason to jump to another pool as the same applies to all of them.

Its been through worse and always bounced back

Not sure how much longer people will wait around to solve a block. It's been three weeks. At such a low overall pool hash rate, the volatility in time between blocks will continue to be an issue. I have to imagine that some of the big hashers will start to pack up for bigger pools.

It's too bad because Bitminter is a great pool. I hate to see it slowly die.

32 wasted shifts, and counting...

Well, we're certainly working on finding it...

I don't think that is possible as we don't know where 100% is.

Could this possibly be the first 100% block? Is that even possible? or does the world end? 

Dear Lord!  Come on already!

Enough with the namecoin blocks. Let's hit some bitcoin!

*sigh* 

95%??!!!! Come on lets get it done and have a nice shiny green one afterwards please!

Certainly is a big one. But we've always got through it. Hopefully a couple of greens will follow in quick succession *crosses fingers*

Awh, the reds return - and she's a big one! :-(

Patience is a virtue

So when's the next block!?

I just got my 1200 GH\s miner running, so I guess I'm contributing something, one of those TH\s is me.

Thanks guys, the support is much appreciated.